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Reverse charge applicability
is reverse charge applicable to the service or goods under 5000 ?
Replies (2)
Quick Summary
Yes, if cover under specific service which cover under rcm
Reverse charge on inward supply from URD is applicable only on Promotor/Developer (Notification 7/2019 CT(r))
Reverse Charge falling Under Section 9(3) is applicable on Goods are :
Raw cotton,cashew nuts,tobacco leaves, bidi wrapper etc purchase from Agriculturist (Noti.43/2017 CT(r)) & Noti. 4/2017 CT (r)
On Services :
supplied by GTA, Lawyer,Services insurance agent to any person carrying on
insurance business, bya recovery agent to a banking company, Services provided by way sponsorship to any body corporate
or partnership firm,Services provided by business facilitator (BF) to a banking
company etc
So kindly clarify the goods or services being availed.
Reverse Charge falling Under Section 9(3) is applicable on Goods are :
Raw cotton,cashew nuts,tobacco leaves, bidi wrapper etc purchase from Agriculturist (Noti.43/2017 CT(r)) & Noti. 4/2017 CT (r)
On Services :
supplied by GTA, Lawyer,Services insurance agent to any person carrying on
insurance business, bya recovery agent to a banking company, Services provided by way sponsorship to any body corporate
or partnership firm,Services provided by business facilitator (BF) to a banking
company etc
So kindly clarify the goods or services being availed.
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